New York Cultivators Have Too Much Weed on Their Hands

Recent reports from Associated Press (Associated Press) news We investigated the current state of cannabis cultivation in New York and focused on the current problems.

AP News spoke with grower Seth Jacobs in an interview. slack hollow organic (and his brand Bud & Boro) Limited number of legal dispensing pharmacies, he sticks to a fair amount of cannabis. “We’re really at gunpoint here. We’re all losing money,” Jacobs said. “Even the most entrepreneurial and ambitious among us cannot move a lot of products in this environment.” Approximately 700 pounds of distillate was stored, as well as 220 pounds of distillate.

New York Governor Kathy Hochul expected the state to license up to 20 new pharmacies each month after early 2023. Operating 11 clinics statewide, 300 licenses Awarded to qualified applicants.

The resulting proliferation of unlicensed cannabis dealers and trucks is not an option for growers like Jacobs, for obvious reasons. Associated Press It said the value of legal cannabis products was estimated at “hundreds of millions of dollars.” 80% is cannabis oil. Even if growers like Jacobs keep their products in temperature-controlled storage containers, eventually the flowers are too old to sell.

Brittany Carbone Trikora Farms was also said Associated Press For the same reason, she keeps 1,500 pre-rolls and 2,000 packs of edibles. “What we really have to see is more retailers opening up, which will actually bring us sustainable solutions.” carbon said.

Jacobs added that there are no plans to produce additional distillates this year due to the abundant supply of product in the vault. Carbone also said Trikora Farms will reduce the number of factories until more pharmacies open.

Associated Press It also cites the issue of prioritizing applicants for social equity as another potential delay. The program includes $200 million allocated to support such companies, of which $150 million comes from “private investment.” The news agency could not confirm that private investment had taken place, but it contacted State Dormitory Administration spokesman Jeffrey Gordon to assess potential pharmacy locations and establish secure banking operations. He said the state’s “complex and unprecedented” mission was still ongoing. challenge.

The New York Cannabis Authority (OCM) recently approved 50 dispensing pharmacy licenses with plans to allow growers to partner with retailers to help sell their products in farmer’s market-style sales. At the announcement in late May, OCM Chief Capital Officer Damien Feigon predicted that this could happen “optimistically within a month.” The plan is for at least three producers and his one licensed retailer to host a farmer’s market event.

John Kagia, Director of OCM Policy, explained the benefits of these events. “This he thinks is very important because it has two effects,” he says. “First, growers can be in front of consumers looking to buy products that are legally regulated in New York and tell their stories. The idea is that retailers will be limited to areas where they are allowed to operate, while producers will be able to sell anywhere in the state because they will be able to sell their products more quickly across the state.”

Aaron Gitelman, a spokesman for OCM, also told AP News that farmers’ markets could help alleviate the problem. “We know these growers are worried about how they will market last year’s crop as they decide whether to plant cannabis crops in 2023. More adult pharmacies as they start selling their products, we will continue to support them.” Gitelmann said..